FDx Advisors Inc. boosted its position in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 10.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,111 shares of the semiconductor company’s stock after acquiring an additional 1,351 shares during the quarter. FDx Advisors Inc.’s holdings in Maxim Integrated Products were worth $796,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gideon Capital Advisors Inc. bought a new position in shares of Maxim Integrated Products during the third quarter valued at about $1,985,000. Carillon Tower Advisers Inc. grew its stake in shares of Maxim Integrated Products by 31.7% during the third quarter. Carillon Tower Advisers Inc. now owns 875,707 shares of the semiconductor company’s stock valued at $49,381,000 after buying an additional 210,907 shares during the last quarter. Korea Investment CORP grew its stake in shares of Maxim Integrated Products by 105.8% during the third quarter. Korea Investment CORP now owns 115,900 shares of the semiconductor company’s stock valued at $6,536,000 after buying an additional 59,571 shares during the last quarter. Westpac Banking Corp grew its stake in shares of Maxim Integrated Products by 8.3% during the third quarter. Westpac Banking Corp now owns 227,547 shares of the semiconductor company’s stock valued at $12,831,000 after buying an additional 17,487 shares during the last quarter. Finally, Shell Asset Management Co. grew its stake in shares of Maxim Integrated Products by 5.0% during the third quarter. Shell Asset Management Co. now owns 70,371 shares of the semiconductor company’s stock valued at $3,968,000 after buying an additional 3,351 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.
Maxim Integrated Products stock opened at $55.92 on Monday. The company has a quick ratio of 3.27, a current ratio of 3.57 and a debt-to-equity ratio of 0.52. The stock has a market cap of $15.49 billion, a PE ratio of 20.63, a PEG ratio of 1.77 and a beta of 1.28. Maxim Integrated Products Inc. has a 1-year low of $46.85 and a 1-year high of $74.94.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 29th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.29%. Maxim Integrated Products’s dividend payout ratio is currently 67.90%.
In other Maxim Integrated Products news, CEO Tunc Doluca sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $55.79, for a total value of $139,475.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Bergman sold 4,400 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $53.24, for a total transaction of $234,256.00. The disclosure for this sale can be found here. Insiders sold 23,523 shares of company stock valued at $1,350,077 over the last 90 days. 0.85% of the stock is currently owned by company insiders.
A number of research analysts have recently issued reports on the company. Zacks Investment Research cut Maxim Integrated Products from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. BidaskClub raised Maxim Integrated Products from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Stifel Nicolaus cut Maxim Integrated Products from a “buy” rating to a “hold” rating and reduced their price objective for the company from $75.00 to $65.00 in a research note on Wednesday, September 12th. KeyCorp assumed coverage on Maxim Integrated Products in a research note on Tuesday, September 25th. They set a “sector weight” rating and a $68.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on Maxim Integrated Products from $60.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $60.76.
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About Maxim Integrated Products
Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, the rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.
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